Top ten cities for locating a business revealed

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A new survey of world cities ranks them based on the total cost of both residential and commercial property expenses, taking into account working and living costs for teams involved in running a business headquarters.

All associated taxes and charges are combined with headline rental costs to create a total tally by which to judge each city’s attractiveness as a location for international business.

The most expensive world class city turns out to be Hong Kong, with London in second place and New York not far behind in third.

The associated location costs of setting up and running a business in each of these three cities is three times that of the most competitively priced capitals offering similar facilities, those being named as Shanghai and Mumbai.

The desirability of a contemporary city lifestyle plays an important part in any decision as to locating the infrastructure of a major business and subsequently the costs involved in residential and commercial accommodation have a significant impact on financial planning.

Along with Shanghai, Sydney and Singapore have among the cheapest total costs of the ten world cities studied in the report and all are currently benefiting from their locations in the new world centres of global commercial activity.

When it comes to Sydney, its growth in popularity as a world business city has fallen foul of restrictions on foreign purchasers buying homes, but new official moves to attract investors are expected to have a significant impact on this situation in the coming year.

The survey shows that Singapore and Tokyo are 20% cheaper than they were in 2008 and this only adds to the shift of influence in the world of global international finance.

Those who need to send money internationally should be aware that foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

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Top ten cities for locating a business revealed

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